Asian markets were a mixed bag on Tuesday as caution kicked in ahead of tomorrow’s key US inflation report, although Chinese shares rose after export data beat market expectations.

Even as anticipation mounts ahead of the US jobs data due later today (Friday 5th May), investors may be bracing for more volatility in the week ahead thanks to another round of risk events.

Bloomberg’s model points to a 72% chance that spot gold will trade within the $1938.57 - $2031.73 range over the next one-week period.

After touching the year-to-date bottom from early February at 100.82 last week, the DXY has rebounded this week. If it holds onto its gains and prints a positive, green candle, that will at least stop a run of five consecutive weeks of losses.